Last week in review: US crypto ownership expected to reach 20% in 2023

Last week in crypto saw a number of positive adoption stories amid the ups and downs of the market price of Bitcoin. 

In Europe, crypto firms rallied to outline legislation concerns while Germany made headlines knocking Singapore off its perch as the most crypto positive country globally. In South Africa, the University of Johannesburg became the first to issue blockchain-based certifications and in the US, crypto ownership is expected to reach 20% by 2023, a very exciting forecast indeed.

As always, there is never a dull moment in crypto. Here are our top picks to come from last week.

EU receives letter from 46 crypto firms outlining legislation concerns

What

European Union (EU) finance ministers have received a letter signed by 46 crypto firms calling for a review of draft crypto legislation that the signatories claim would harm the $2.1 trillion industry

Why

The letter, delivered on 13th April, comes following proposed legislation from the EU to require crypto firms to disclose all crypto transactions that take place on their platforms. This could put the EU at odds with other countries and make it a less competitive place for crypto startups, the letter warns

What next

MiCA, the name for the wider legislation framework, was recently passed through the European Parliament and will next be debated by the EU’s member states to shape the final bill

Read the full story here

Germany ranked as friendliest crypto country in the world

What 

Germany has knocked Singapore off its perch as the most friendly crypto country globally, according to findings in the Coincub crypto-friendly ranking guide, released every quarter

Why 

One of the main reasons for the European nation claiming the top spot is a recent decision by Sparkasse bank to introduce crypto investments to its 50 million clients 

What next 

The Netherlands, France, Spain and Switzerland have also shot up the rankings thanks to vibrant crypto economies and high numbers of crypto transactions in these regions 

Read the full story here

University of Johannesburg first in South Africa to issue blockchain-based certifications

What 

The University of Johannesburg (UJ) is pioneering the way in South African education by issuing degrees and other certifications that can be verified on a blockchain

Why 

The immutability of blockchain-based certificates makes it virtually impossible to engage in certificate fraud, but it also allows anyone to check its authenticity by simply scanning a QR code printed on the certificate

What next 

“This continuous improvement strategy and use of cutting-edge technology are at the heart of our philosophy,” said UJ Registrar Kinta Burger. The university was also the first in South Africa to issue digital certificates many years ago

Read the full story here

US crypto ownership expected to reach 20% in 2023

What

Crypto ownership in the US has now reached over 34 million people — according to a study by Insider Intelligence.

Why

Nazmul Islam, forecasting analyst at Insider Intelligence, attributed the increase to new apps that make purchasing cryptocurrency much easier, combined with the popularity of meme coins.

What next

Looking to the future, Islam said that younger people were more optimistic about cryptocurrency and were buying it to hold for the long term, whereas older investors were generally more sceptical and risk-averse but were increasingly adding them to retirement funds.

Read the full story here

To catch up on other big stories from last week, be sure to check these headlines:

Project Dunbar and the future of a CBDC in South Africa

Taiwanese semiconductor manufacturer raises $3.5 billion to grow US facilities

Australia to launch its first Bitcoin ETF